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Maersk profit beats consensus by 24.7% in Q2


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Maersk profit beats consensus by 24.7% in Q2

A.P. Møller - Mærsk A/S said its normalized net income for the second quarter amounted to $41.36 per share, compared with the S&P Capital IQ consensus estimate of $33.18 per share.

EPS decreased 24.6% year over year from $54.87.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $902.4 million, a decline of 25.4% from $1.21 billion in the year-earlier period.

The normalized profit margin dropped to 8.6% from 10.1% in the year-earlier period.

Total revenue decreased 11.9% year over year to $10.53 billion from $11.95 billion, and total operating expenses decreased 9.1% on an annual basis to $9.04 billion from $9.94 billion.

Reported net income totaled $1.07 billion, or $49.00 per share, compared with a loss of $529.0 million, or a loss of $24.22 per share, in the year-earlier period.